Medical Tapes Market Global Growth

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Medical Tapes Market Global Growth
Global Market Study on Medical Tapes: Hospitals
End User Segment to Retain Market Dominance
Through 2024
R e s e a r c h
Report Media Releases
Global Medical Tapes Market to Reach US$ 1,757.2 Mn by
2024 End; Developing Economies Expected to Fuel
Revenue Growth
In a new report titled ‘Medical Tapes Market: Global Industry Analysis and Forecast 2016 –
2024’, Persistence Market Research analyzes the performance of the global medical tapes
market over an eight-year period and provides insights on the key factors and trends likely to
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influence the market during the forecast period (2016 – 2024). The global medical tapes market
is expected to register a CAGR of 5.8% during the forecast period 2016–2024. In this report, the
global medical tapes market is tracked in terms of value and is calibrated to obtain market
revenue estimates.
Rising incidences of Healthcare Acquired Infections (HAIs), product line extensions from
manufacturers, increasing innovation, concern about patient safety among clinicians, and
development of single patient use tapes are major factors driving the growth of the global
medical tapes market currently. Other trends boosting market growth are increasing awareness
regarding the use of medical tapes for securement among physicians and patients and rising
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incidence of wounds, burns, and injuries. In addition, medical tapes manufacturers in the global
medical tapes market are focusing on introducing differential products with enhanced safety and
applications to increase their market share.
However, adoption of alternative treatment methods, increasing incidence of Medical Adhesive
Related Skin Injuries (MARSI), and a lack of guidelines regarding proper selection and usage of
medical tapes are expected to hamper the growth of the global medical tapes market.
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The global medical tapes market is segmented based on product type, application, distribution
channel, and region. On the basis of product type, the market has been segmented into
adhesive tapes, elastic tapes, silicone tapes, paper tapes, and silk cloth tapes. The silk cloth
medical tapes segment is expected to remain the largest segment, registering a CAGR of 5.0%
in terms of value over the forecast period. The wider application of silk cloth medical tapes in
various healthcare conditions and easier availability is expected to contribute to their growing
Global Medical Tapes Market 2016-2024
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popularity. The silicone tapes segment is expected to emerge as the most preferred product type
for both patients and physicians globally over the forecast period, and is expected to register a
CAGR of 6.6% during the forecast period 2016-2024.
On the basis of application, the global medical tapes market has been segmented into wounds &
injuries and surgeries & securement. The wounds & injuries segment dominated the global
medical tapes market in revenue terms in 2015 and is projected to continue to do so throughout
the forecast period. The hospitals segment is estimated to account for 44.6% revenue share of
the global medical tapes market by 2016 end owing to increased number of hospitalizations.
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On the basis of region, the market has been segmented into North America, Latin America,
Europe, Asia Pacific, and Middle East & Africa. This report assesses trends driving each market
segment and offers analysis and insights about the potential of medical tapes in specific regions.
Asia Pacific is estimated to dominate the global medical tapes market with maximum value share
of the overall market by the end of 2016. By 2024, the North America and Asia Pacific markets
are expected to account for over 60% revenue share of the global medical tapes market. In
terms of value, Asia Pacific is estimated to be the dominant market, registering a CAGR of 7.0%
over the forecast period.
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Some of the key companies covered in the global medical tapes report include 3M, Johnson &
Johnson, Paul Hartmann AG, Scapa Group PLC, Andover Healthcare Inc., Ad Tape & Label,
and Medtronic Plc. These companies are primarily focused on enhancing their market share by
entering new markets and by introducing innovative and cost-effective medical tapes in order to
gain a higher market share and to strengthen their respective position in the global medical
tapes market.
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Global Medical Tapes Market 2016-2024
R e s e a r c h
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Global Medical Tapes Market 2016-2024

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